The equity accounts for Kalimantan Corp. showed the following balances

The equity accounts for Kalimantan Corp. showed the following balances on December 31, 2013:
Preferred shares, $2 non-cumulative,
Unlimited shares authorized ............................................................................ $ -0-
Common shares, unlimited shares authorized,
100,000 shares issued and outstanding .......................................................... 640,000
Retained earnings............................................................................................... 864,000
The company completed these transactions during 2014:

The equity accounts for Kalimantan Corp. showed the following balances

Required
1. Prepare General Journal entries to record the transactions and closings for 2014.
2. Prepare the statement of changes in equity for the year ended December 31,2014.

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